Puma Biotechnology (PBYI) Given a $106.00 Price Target at Credit Suisse Group

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Credit Suisse Group set a $106.00 target price on Puma Biotechnology (NASDAQ:PBYI) in a report published on Friday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also issued reports about the stock. Barclays decreased their price target on shares of Puma Biotechnology from $92.00 to $90.00 and set an overweight rating on the stock in a research note on Friday. BidaskClub lowered shares of Puma Biotechnology from a buy rating to a hold rating in a research note on Saturday. Royal Bank of Canada decreased their target price on shares of Puma Biotechnology from $108.00 to $92.00 and set a sector perform rating on the stock in a research note on Friday, November 10th. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their target price on shares of Puma Biotechnology from $138.00 to $91.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Finally, Bank of America decreased their target price on shares of Puma Biotechnology from $135.00 to $115.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Puma Biotechnology currently has an average rating of Buy and an average price target of $107.00.

Shares of Puma Biotechnology (NASDAQ PBYI) traded up $9.30 during trading on Friday, reaching $71.05. 4,030,000 shares of the company were exchanged, compared to its average volume of 1,210,000. The stock has a market cap of $3,070.00, a price-to-earnings ratio of -9.04 and a beta of 0.26. Puma Biotechnology has a 1 year low of $28.35 and a 1 year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($1.71) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.98) by $0.27. The company had revenue of $21.60 million during the quarter, compared to analysts’ expectations of $20.83 million. During the same period in the prior year, the business posted ($1.22) earnings per share. equities research analysts expect that Puma Biotechnology will post -4.69 EPS for the current fiscal year.

In other news, SVP Richard Paul Bryce sold 1,860 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $92.75, for a total transaction of $172,515.00. Following the completion of the sale, the senior vice president now owns 25,379 shares in the company, valued at approximately $2,353,902.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alan H. Auerbach sold 10,692 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $92.75, for a total transaction of $991,683.00. Following the sale, the insider now owns 4,155,931 shares of the company’s stock, valued at approximately $385,462,600.25. The disclosure for this sale can be found here. Company insiders own 21.10% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC increased its holdings in shares of Puma Biotechnology by 26.0% during the 3rd quarter. Perceptive Advisors LLC now owns 923,820 shares of the biopharmaceutical company’s stock worth $110,627,000 after buying an additional 190,500 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Puma Biotechnology by 9.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 135,167 shares of the biopharmaceutical company’s stock worth $16,187,000 after buying an additional 11,787 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Puma Biotechnology by 38.9% during the 3rd quarter. New York State Common Retirement Fund now owns 44,792 shares of the biopharmaceutical company’s stock worth $5,364,000 after buying an additional 12,545 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Puma Biotechnology by 265.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 482,200 shares of the biopharmaceutical company’s stock worth $57,743,000 after buying an additional 350,300 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its holdings in shares of Puma Biotechnology by 355.7% during the 4th quarter. Rice Hall James & Associates LLC now owns 106,272 shares of the biopharmaceutical company’s stock worth $10,505,000 after buying an additional 82,953 shares during the last quarter.

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About Puma Biotechnology

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

Analyst Recommendations for Puma Biotechnology (NASDAQ:PBYI)

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